Substantial financial aid offered at local private schools

Talk about sticker shock.

Tuition: $8,000. Room and board: $10,000. Books: $1,000.

And that’s for a Virginia public university.

Tack on an additional $20,000 in tuition — the average going rate for a private college — and it gets downright excruciating.

But four private schools in the Lynchburg area have a message for would-be students: Forget the sticker price.

“It is a daunting price tag,” acknowledged Michelle Davis, director of financial aid at Lynchburg College, where full tuition for 2008-09 is $27,215. “Families often look at the sticker price and automatically rule us out. But it’s really important to look at the different types of financial aid that the student is automatically eligible for.”

Today, LC and 24 other Virginia colleges wrap up an annual event promoting the affordability of private schools. LC, Randolph College and Sweet Briar College hosted dozens of families during Virginia Private College Week.

Although Liberty University did not participate, the school also is busy with recruitment during the summer months, said Chris Johnson, executive director of resident recruiting.

“We try very hard to make ourselves competitive with state and community colleges with price,” he said. “Price is not going to be the reason they walk away from Liberty.”

After grants, scholarships and other awards, the average student at Sweet Briar or Liberty pays less than $10,000 for tuition, which is within the range of tuition at Virginia’s public colleges.The average student at Randolph College or LC pays a bit more, but still nowhere near either schools’ roughly $27,000 full tuition rate.

Each school reports offering financial aid to more than 90 percent of students.

That amount averages from $6,000 off the price of tuition at Liberty to $18,000 at Sweet Briar, although many students may be offered more or less depending on merit and need.

“Many of the colleges basically offer a full range of opportunities — from scholarships, to full tuition, to self-help options,” said John W. White, dean of admissions and student financial services at Randolph College.

That school, for example, provides merit-based academic scholarships ranging from $5,000 to $12,000, he said. The most competitive scholarship, which includes an interview process for candidates, offers full tuition for all four years.

“There’s certainly a lot more scholarship opportunities today than there were years ago,” White said. “It’s also more competitive.

“Families today are more savvy about financing their education. States have developed various college savings plans, and I would say colleges do a better job of also trying to educate families about their different financial options.”

For Virginia residents attending an in-state private college, there’s also the Virginia Tuition Assistance Grant through the State Council of Higher Education for Virginia.

The award guarantees $3,200 annually to full-time students, and is applicable at more than 30 private colleges, including Randolph, LC, SBC and Liberty.

On top of that award, Sweet Briar gives an additional $7,500 tuition discount to all Virginia residents, said Dean of Admissions Ken Huus.

Merit-based awards at Sweet Briar range from $6,000 to $15,000, he said, but a student who receives at least $7,500 in merit-based scholarships becomes ineligible for the discount offered to Virginia residents.

“I think affordability is always an issue, but even more so today. With college degrees being so important, families really are looking into, ‘What’s my investment worth?’” Huus said. “When it comes down to it, if we’ve made it affordable, they’re coming.”

Lynchburg College and Liberty also offer academic scholarships based on a students’ high school grade point average and standardized test scores.

LC’s range from $3,000 to $12,000, and Liberty’s from $1,000 to $6,000.

On top of that, each school provides competitive scholarships, some funded through alumni donations. Students also may seek financial aid, or help pay their remaining tuition through work-study programs.

“(The cost) is still slightly higher than our public (universities) in Virginia, but we offer a different educational opportunity,” said LC’s Davis. “Publics aren’t for everyone. We may not be the perfect fit for everyone.”

Elaine Prater, a new Randolph College junior transferring from a Wisconsin school, toured the college this week.

She planned to speak with financial officers to see where she stood, and said scholarships she had been offered would help in the coming semester.

“It’s going to be the saving grace this year,” she said.

What the average full-time undergraduate student in the upcoming year will pay for tuition — after grants, scholar-ships and other awards. Cost for room and board is not included.

Liberty University:
Tuition: $15,450
Awards: – $6,000
Remaining cost: = $9,450

Lynchburg College:
Tuition: $27,215
Awards: – $13,535
Remaining cost: = $13,680

Randolph College:
Tuition: $26,870
Awards: – $15,470
Remaining cost: = $11,400

Sweet Briar College:
Tuition: $26,720
Awards: – $18,000
Remaining cost: = $8,720

According to the State Council of Higher Education for Virginia, full-time undergraduate tuition rates at Virginia four-year public colleges in 2007-08 ranged from $5,322 to $10,048, with an average rate of $7,083.

Caleb Moxley looks around Randolph College’s campus with transfer student Elaine Prater.
Photo by Kim Raff/The News & Advance